Ashraf AboArafe
The Suez Canal Authority (SCA) and A.P. Moller–Maersk have signed a new strategic partnership agreement, marking the formal return of Maersk’s container vessels to the Canal beginning early December — a step paving the way for full reinstatement of traffic through the Red Sea and the Suez route.
The agreement was signed in Ismailia by Admiral Osama Rabie, Chairman of the SCA, and Vincent Clerc, CEO of A.P. Moller–Maersk, during a ceremony at the New Marina Building. The partnership extends a decades-long relationship and establishes a renewed framework for future maritime and logistics cooperation.
Admiral Rabie described Maersk’s return as “a move in the right direction toward restoring the optimal and most sustainable route for global supply chains — the shortest, fastest, and safest link between East and West.”
He emphasized that the partnership opens new horizons across maritime and logistics domains, noting Maersk’s strong presence in the Canal: 1,158 vessels crossed in 2023, carrying net tonnage of 127 million tons and generating revenues of $733 million.
Rabie highlighted the stabilizing effect of the Sharm El-Sheikh Peace Summit, which eased tensions in the Red Sea and Bab al-Mandeb, helping maritime traffic rebound. October saw 1,136 vessels transit the Canal, with net tonnage rising from 40.4 million to 47.1 million tons year-on-year. Revenues grew from $322.1 million to $372.9 million.
November projections show further recovery: 1,156 vessels, 48.5 million tons, and $383.4 million in revenues — up significantly from the previous year.
Rabie also revealed progress in discussions with global shipping lines to adjust sailing schedules and restore full passage via the Red Sea. Talks with CMA CGM have already resulted in a decision for full return through the Suez Canal this December.
He further stressed that since the outbreak of the Red Sea crisis, the Canal has proactively expanded its service network, upgraded its fleet of marine units, and introduced flexible pricing, including a 15% discount for container ships exceeding 130,000 tons.
For his part, Vincent Clerc praised the SCA’s policies and continuous communication throughout recent challenges, affirming that the Canal is not only a vital shipping lane for Maersk but also a strategic partner in East Port Said’s container terminal. He extended appreciation to President Abdel Fattah El-Sisi for his support and attendance at the inauguration of new terminals at the port — a milestone in deepening cooperation.
Clerc reiterated: “The Suez Canal has been, remains, and will continue to be a central pillar in Maersk’s global shipping routes.”
He expressed confidence that Maersk’s return will encourage other major lines to follow, noting that security challenges in the region had raised global freight costs, affecting every economy.
He added that Maersk places great hope on the Sharm El-Sheikh Peace Agreement, which brought calm to the Red Sea and laid the foundation for this new strategic partnership — a key step toward full resumption of navigation through the Canal.
Clerc concluded by expressing his anticipation of seeing Maersk’s largest vessels sail once again at full capacity through the Suez Canal.
The signing ceremony was attended by Vice Chairman Admiral Ashraf Atwa, members of the SCA Board, and senior Maersk officials including Ahmed Hassan, Vice President of Operations for A.P. Moller–Maersk, and Hani El-Nady, Maersk’s Regional Representative for the Middle East and North Africa.
The agreement was signed on behalf of the SCA by Eng. Gamal Abu El-Kheir, Director of the Chairman’s Office, and on behalf of Maersk by Rehab Boulos, Chief Operating Officer and Executive Board Member.
